San Jose Sellers Pull Over 9% of Listings, Ranking No. 2 Nationwide
Updated
Updated · NBC Bay Area · Jun 4
San Jose Sellers Pull Over 9% of Listings, Ranking No. 2 Nationwide
3 articles · Updated · NBC Bay Area · Jun 4
Summary
More than 9% of San Jose homes listed for sale were withdrawn last month, giving the city the second-highest delisting rate among major U.S. markets, Redfin said.
High inflation and elevated mortgage rates are driving the pullback, while some owners are delisting after failing to get their target prices as borrowing costs sideline buyers.
That retreat is shrinking South Bay inventory and intensifying price pressure in an already competitive market, leaving many prospective buyers unable to find affordable options.
Local residents told NBC Bay Area that even with stable jobs, homeownership in San Jose now feels years away, underscoring how the inventory squeeze is deepening the region's housing crisis.